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October 31, 2014

Posts by Rescueme417


Total # Posts: 8

Accounting
Journalize the following transactions for Tammy Company: Sept. 1 Sold $3,500 of merchandise to Jim on account Oct. 1 Exchanged Jim’s account receivable for a fourmonth, 8% note for $3,500 Dec. 31 Recorded accrued interest on Jim’s note Feb. 1 Jim paid off his note ...
November 26, 2012

Accounting
Below is a list of treatments of accounting topics. Place GAAP on the line if the treatment is GAAP-based and place IFRS on the line if the treatment is IFRS-based. A. Interest and dividend income are reported in the investing section of the cash flow statement.__________ B. ...
November 26, 2012

Accounting
Assume that in Year 1, the ending merchandise inventory is overstated by $30,000. If this is the only error in Years 1 and 2, fill in the items below, indicating which items will be understated, overstated, or correctly stated for Years 1 and 2. Item Year 1 Year 2 Ending ...
November 26, 2012

Accounting
. Journalize the following transactions using the perpetual inventory method. Aug. 6 Purchased $830 of inventory on account from Johnston with terms of 2/10, n/30. Aug. 8 Purchased $2,611 of inventory for cash from Pillner Company. Aug.15 Paid for August 6 purchase from ...
November 26, 2012

Accounting
Prepare a trial balance from the following information for Learn a New Language, Inc. for December 31, 2012. Accounts payable $5,012 Common stock $9,692 Cash $3,928 Notes payable $1,439 Wages expense $777 Marketing expense $493 Equipment $8,345 Accounts receivable $1,142 ...
November 26, 2012

Accounting
Journalize the following transactions and omit the explanations. A. ABC Corporation purchased $15,000 of office furniture by putting $7,000 down in cash and the rest on account on April 8. B. The corporation paid $60,000 for a two-year lease on April 19. C. The corporation had...
November 26, 2012

Accounting
Record the following transactions using the accounting equation. Example: Assets = Liabilities + Equity XXXX(cash) XXXX(accounts payable) A. Amanda invests $17,000 cash into her merchandising business. B. She buys $6,500 of office equipment and $3,000 of office supplies with ...
November 26, 2012

Accounting
The following information was made available from the income statement and balance sheet of Lauren Company. Item 12/31/10 12/31/09 Accounts Receivable $53,400 58,600 Accounts Payable 35,600 32,700 Merchandise Inventory 85,000 79,000 Sales (2010) 243,000 Interest Revenue (2010...
November 26, 2012

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